SIG and Axiata were among the investors as fitness services app developer KFit raised $12m to help it expand further in the Asia Pacific region.
KFit, the Singapore-based operator of a fitness services marketplace, has secured $12m in series A capital from backers including telecommunications company Axiata Group and trading firm Susqeuhanna International Group (SIG).
Venturra Capital led the round, which also included existing investors Sequoia Capital India and 500 Startups. Axiata participated through Axiata Digital Innovation Fund, the $30m joint venture it formed with Malaysia Venture Capital Management in late 2014.
KFit’s app offers users the chance to book a range of fitness services available at the company’s gym and fitness studio partners.
Currently available in 10 cities including Seoul, Taipei, Auckland and Perth, KFit intends to expand the app’s reach to other markets while strengthening its technology and widening the services accessible to customers through the platform.
Joel Neoh, KFit’s founder, said: “At KFit, we have seen first-hand that staying active makes people happier and healthier. Our goal is to make it simple to build fitness and wellness into everyday life.
“The next phase of our expansion will see us bring even more exciting partners onto the platform, helping us transform our customers’ health and lifestyle as they discover and enjoy great offline experiences across the Asia Pacific region.”
KFit initially raised an undisclosed amount of capital in April 2015 before closing $3.25m in seed funding from investors including Sequoia, 500 Startups, SXE Ventures and Founders Global in July.
